Enrollment Services
Financial Aid
Federal Direct Subsidized Stafford/Ford Loan
Maximum Amounts:
$3,500 per academic year Freshman: 0-44 hrs
$4,500 per academic year Sophomore: 45-89 hrs
$5,500 per academic year Junior or Senior: 90-134 hrs (Junior); 135+ hrs (Senior)
$8,500 per academic year Graduate
This Federal Direct Stafford/Ford Loan is a deferred interest loan based on financial need. The interest rate is fixed at 6.0% for undergraduates and 6.8% for graduates. Fees totaling 2% are deducted from each disbursement. Eligible students who decide to take the loan must complete a separate promissory note. After the Financial Aid Office receives the signed promissory note, the funds are disbursed to the student's account. Repayment begins six months after a student graduates, leaves school, or drops below half-time enrollment. This loan is also available to part-time students. Federal law requires that all first-time student borrowers receive loan counseling. Graduate students must be admitted to a master's program to borrow at the graduate amount.
Independent Students (amounts include both Subsidized and Unsubsidized Loans)
$7,500 per academic year Freshman
$8,500 per academic year Sophomore
$10,500 per academic year Junior/Senior
$20,500 per academic year Graduate
Independent students can borrow up to the above amounts of unsubsidized Stafford/Ford Loan (if eligible). Remember, applicants cannot borrow more than the cost of education minus any other financial aid (e.g., portions of Subsidized Stafford/Ford Loan) for which they are eligible.
The total combined Stafford/Ford Loan debt maximums are $23,000 for dependent undergraduates and $46,000 for independent undergraduates. The graduate maximum, $138,500, includes loans received as an undergraduate.
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Unsubsidized Stafford Loans  |
